A groundbreaking ceremony of the Penoplex company’s plant for the production of thermal insulation boards was held in Azerbaijan’s Hajigabul district, Trend reports.
The new plant will be built as part of the implementation of joint projects in accordance with the decisions of the Azerbaijan-Russia interstate governmental commission in the field of economic cooperation in terms of partnership for the development of the construction sector. It will become the only enterprise of this kind in the region.
The corresponding agreement was signed by Azerbaijani Deputy Minister of Economy Niyazi Safarov and Russian Deputy Minister of Economic Development Azer Talibov.
Penoplex company was established in Russia's St. Petersburg in 1998, for the production of heat and waterproofing building materials. The company’s annual production volume is about three million cubic meters of polystyrene foam.
The company has eight plants in Russia, as well as one plant in Kazakhstan and one plant in Uzbekistan.
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